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GBPUSD: possible long scenarioThis idea is based on that the market is already pricing rate cut in GBP, so it is possible that we are going to see a strong pull back in price and then buy out from the level around 1.2957.. it provides decent R:R for joining bulls with stops below 1.29 and take profit around 1.312. (R:R=2.86) If the rate remains unchanged it will be a positive scenario for GBP and it might continue going up without any pull back.. Keep in mind that this idea might be realized in several days and having long position in GBPUSD results negative swap. // Comment your opinion and follow me to stay updated.
Long
by GIgor_021
My AnalysisHey guys, I am just putting up my signal, not as a signal for you guys to follow through, but more for analysis and critiques. Feel free to say whatever the issue is, that's the only way people get better at what they do. I'd like to be in the same position for that to get better in creating my trading strategies, so go ahead and if you think my plan and/or strategy(s) are wrong! Thanks again. :) Remember, say whatever it is you feel like what would be right and/or wrong about my analysis! That is how we all get better! Good luck to everyone with their trading! :D
by EddieLalitto
Gold bottoming out? Looking for insight. Gold has retraced to a significant support zone, in my opinion. This zone is formed by the structure and .618 fib. retracement of a bullish swing from 1124 low. Along this support zone, Gold has formed what appears to be a Harmonic pattern. Also looks like a bullish divergence on RSI supports my case for a trend reversal. Im enticed to buy gold here for a position trade. Or wait for the price clearing and retesting of the overhead resistance. Stop loss for the trade would be just just under the support zone. What I am not sure is if this location and bullish signs justify putting on a trade against the prevailing bearish trend. Comments welcome. Dan
OANDA:XAUUSD
by danny394143
AUD/JPY PullbackOn my previous post I stated that there could be a downside movement for this pair. However, there was a large amount of upside movement which looked like it was due to noise or news which has been released. As seen yesterday there was some news released for AUD which may have sparked the current increase in buyers. I feel that the noise period is over and a pullback is going to begin. I am going to take a sale position to the next key level. it is evident that once the market moves out of this zone is pulls back significantly quick.
by CMTW
1
Potential long opportunity GBPUSDHello Traders, Price came very close but if we can actually reach 1.4094 then we have a Bat pattern which completes at the 88.6% fibonacci retracement level. This pattern completes in an zone of support. Furthermore, this pattern serves as a continuation of the recent uptrend. Target 1: 1.4354 Target 2: 1.4510 Note that that we have CPI (inflation) figures coming out in the UK. We have a forecast of 0.4%. Typically if the actual figure is greater than the forecast we could see an appreciation in GBP. Since it may lead to the Bank of England raising interest rates. Feel free to follow, like, comment and share
Long
by DigitalKM
6